Fitch: U.S. Rating Could Suffer in 2013 Without Credible Plan

Fitch Ratings reiterated on Thursday it would cut its sovereign credit rating for the United States next year if Washington cannot come to grips with its deficits and create a "credible" fiscal consolidation plan.

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"The United States is the only country (of four major AAA-rated countries) which does not have a credible fiscal consolidation plan," and its debt-to-GDP ratio is expected to increase over the medium term, said Ed Parker, sovereign ratings analyst, speaking at a Fitch conference in New York.